Will your business proposal win you a new client?

Suppose a prospective client has invited your company to submit a proposal to address a business issue. Can you develop a proposal that will convert the prospect to a client?

Here are some considerations:

1. Who is the prospect?

Before you submit a business proposal, you must know the prospect: its line of business, markets, products and services, customers, and much more. Seems obvious, but some proposals have been rejected because they did not demonstrate a solid understanding of the prospect.

2. What is the prospect’s goal?

From conversations with the prospect, and perhaps from studying the prospect’s Request for Proposal or RFP, you can learn what the prospect wants to accomplish: launch a new product or service, restructure its business, enter a new market or achieve other goals.

Can you demonstrate to the prospect that you have a clear understanding of its goals?

3. Why is the prospect asking for a proposal?

The prospect may not have the expertise or the resources to achieve its goal on its own. It may want to draw on your company’s experience and insights. It may have other reasons.

4. Who is the audience?

Inside the prospect’s organization are the people who will make the decision whether to accept the proposal.

The decision-makers may include the CEO, CFO and other top executives, a business line manager, or others.

What do you know about these decision-makers? What are their backgrounds, management styles? How receptive are they to asking for a proposal?

Some people in the prospect’s organization may favor asking for a proposal while others may be lukewarm or opposed.

5. What does the prospect want to know about your organization?

Can you convince the prospect that your company has the knowledge, experience and competence to execute the project? That yours is a financially sound organization? That it is trustworthy?

6. Would you be comfortable working with the prospect?

Are you satisfied that you can develop a working relationship with the prospect? That the prospect will meet its obligations?

7. What would be the steps to accomplish the project?

If your business proposal is accepted, what is required of you to meet the project’s goals? What are the metrics for measuring progress toward those goals? How will your client evaluate your company’s performance?

8. What is required of your company once the project is completed?

Once the project is finished, your client may expect you to provide advice and assistance in resolving any project issues.

Coming out a winner

The difference between a winning business proposal and the also-rans can be a matter of degree.

The winning bidder may have demonstrated a better understanding of the prospective client’s organization, what it wants to accomplish, and how it will measure results.

So before you submit a business proposal, consider whether you are prepared to invest the thought, time and effort in creating a winner.